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French tycoon indicted in case linked to IMF chief

Prominent French businessman Bernard Tapie was indicted for fraud on Friday as part of a judicial investigation into possible corruption over a multi-million euro government payout he received in 2008.

French tycoon Bernard Tapie was charged Friday in a corruption probe over a huge state payout to him that has embroiled IMF chief Christine Lagarde, his lawyer said.

Tapie, who had been in custody since Monday, was charged with fraud as part of an organised gang in connection with a 400-million-euro ($525 million) state payout he received in 2008 when Lagarde was France's finance minister.